Pune, India -- (SBWIRE) -- 05/09/2018 -- Synopsis of Flexible Plastic Packaging Market:
Flexible packaging is one of the fastest growing segments of the packaging industry, and it integrates the best qualities of plastic, film, paper and aluminum foil to offer an extensive range of protective properties. It essentially takes the shape of a bag, pouch, liner, or overwrap, or any part of a package whose shape can readily be changed. Such packaging is used for consumer products and in industrial applications, to protect, market, and distribute a variety of products.
The market for global flexible plastic packaging is segmented mainly based on types, printing technologies, and applications. Market categorization on the basis of product type includes Stand-Up Pouches, Flat Pouches, Gusseted, Bags and Others. On the basis of printing technology, it has been segmented as flexography, digital printing, and others. Furthermore, on the basis of applications the market of flexible plastic packaging is segmented as food & beverages, pharmaceuticals, personal care, other industries. Flexible Plastic Packaging Market is expected to reach the market size of ~USD 129 billion by the end of forecast period with CAGR of ~5.2% between 2017 and 2023.
The market is driven by various factors such as increased consumption of processed foods & beverages, innovation in flexible packaging, and environmental advantage of flexible plastic packaging. The higher disposable income in these developing countries increases the purchasing power. Hence, consumer dependence on processed, pre-cooked and packed foods, here, will increase. As a result flexible packaging market has been impacted, positively. However, flexible plastic packaging market has various restraints that hinder the market growth such as fluctuating raw material prices and stringent regulations on packaging material waste and recycling.
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The major player operating in the market of global flexible plastic packaging are Amcor Limited(Victoria), Constantia Flexibles Group GmbH (Austria), Mondi Group (Johannesburg), Sealed Air Corporation (North Carolina), Sonoco Products Company (U.S.), Coveris Holdings S.A. (U.S.), Huhtamaki Group (Finland), Bemis Company Inc. (U.S.) and Ampac Holdings LLC (U.S.).
Asia Pacific dominates the global flexible packaging market with the largest market share. It comprises countries such as China, India, and Japan, which lead in in the export of goods to various parts of the world. Moreover, increase in consumer income has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, which ultimately increases the demand for flexible packaging products. The increasing exports from these countries is leading to the growth of the flexible packaging market. The booming e-commerce market in the region is also contributing in the growth of the flexible packaging market. The e-commerce market is boosted by the increasing internet penetration.
Plastic packaging market expansion will continue to profit from the drive to replace traditional materials such as glass and metal, with lighter-weight, more cost-effective and higher performance plastic materials in various markets. Flexible plastic packaging is cheap, visually appealing and chemically inert. These features increase their demand in products that are used in packaging, and are made in a wide variety of innovative shapes, sizes and appearances. They include components, such as handles; and opening and reclosing features, such as zips and spouts. Such packaging helps in reducing the wastage of food due to the increased shelf life of the food product, according to Industry Council for Research and Packaging on the Environment (INCPEN). Advanced packaging for milk pouches, makes transportation easy and without any refrigeration.
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To remain competitive, manufacturers have to make process improvements and invest in equipment designed to minimize scrap and deliver the required lower basis?weight materials in sufficient quality and quantity. The packaging industry relies on sophisticated printing and converting machinery to deliver the quality, efficiency and innovation that the market demands. This drives its relatively high capital intensiveness. In the developed world, overall demand for consumer goods has been relatively static. However, demographic changes and increased market share competition between established FMCG producers has driven innovation in packaging.
The report for Global Flexible Plastic Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
- Product matrix which gives a detailed comparison of the market for different recycled product types
- Regulatory Landscape
- Pricing Analysis
- Macroeconomic Indicators
- Geographical analysis across 15 countries
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
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